PegBio Co., Ltd. — Capital/Financing Update 2008

May 6, 2008

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XIN CORPORATION LIMITED 新 創 綜 合 企 業 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 1141)

MONTHLY ANNOUNCEMENT ON THE SECOND TRANCHE OF THE CONVERTIBLE NOTES

AND

THE SECOND TRANCHE OF THE NEW VISION CENTURY NOTES

The Company made this announcement pursuant to paragraph (i) under the heading “Dilution effect on Shareholders” of the Circular.

Reference is made to the announcement of Xin Corporation Limited (the “Company”) dated 28th June, 2007 and the circular of the Company dated 19th July, 2007 (the “Circular”). The Company made this announcement pursuant to paragraph (i) under the heading “Dilution effect on Shareholders” of the Circular. Capitalised terms used in this announcement shall have the same meanings as defined in the Circular unless otherwise defined.

The Company would like to report that no conversion of the second tranche of the Convertible Notes (the “2nd Tranche of the Convertible Notes”) and the second tranche of the New Vision Century Notes (the “2nd Tranche of the New Vision Century Notes”) was made by their holders during the month of April 2008. As at 30th April, 2008, the outstanding principal amount of the 2nd Tranche of the Convertible Notes and the 2nd Tranche of the New Vision Century Notes are HK$50,000,000 and HK$30,000,000 respectively.

The Company has not issued any Shares during the month of April 2008. Information regarding the total issued share capital of the Company as at 1st April, 2008 and 30th April, 2008 are set out below:

		Issued share capital	Number of issued Shares
		HK$
As at	1st April, 2008	10,698,637.67	1,069,863,767
As at	30th April, 2008	10,698,637.67	1,069,863,767

This announcement is only released through the web-site of The Stock Exchange of Hong Kong Limited and no publication in the newspaper is made.

* For identification only

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On behalf of the Board Lo Ming Chi, Charles

Deputy Chairman and Chief Executive Officer

Hong Kong, 6th May, 2008

As at the date of this announcement, the Board comprises Mr. Suen Cho Hung, Paul (Chairman), Mr. Lo Ming Chi, Charles (Deputy Chairman and Chief Executive Officer), Mr. Yu Wai Man, Mr. Zhang Zhidong and Mr. Sue Ka Lok as executive Directors and Mr. Wong Kwok Tai, Mr. Weng Yixiang, Mr. Lu Xinsheng and Mr. Xiong Wei as independent non-executive Directors.

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